"So my position is not that there should be no regulation but I also think that you have to be careful about regulation you put in place". But in Bhatt's opinion, data is even harder to control than oil. The belated good intentions of new economy firms offering social connectivity in exchange for users' personal details may not amount to much, particularly in exploitation of such data for purposes like "fixing" elections by targeting voters in democracies.
"It was instructive learning more about the challenges that Facebook is facing in the areas of privacy and security", Dan Boneh, a professor of Computer Science at the Applied Cryptography group at Stanford University, said in a statement. It's a multi-sided platform, the main goal of which is to get people to remain on it, creating content - data - that can be packaged as a profile for advertisers. And it's now a big enough thing that people now have to take this seriously. Yet several Republican lawmakers complained to Zuckerberg about what they called a bias on Facebook. And certainly in Europe this is happening.
"Hacked is not the right word to use. there's no hack there's no data breach, it's really important to use that messaging because that's really what's it's all about". Our society has conditioned us to want and need the satisfaction from that quiz instantly without actually thinking about what it means to click the button that asks if we agree to the quiz' terms and conditions. Whether you choose to leave or not you can still get behind that campaign.
Investors in other social media stocks are enjoying a bump too. And the delete this campaign is simply a way of demonstrating a protest.
During the hearing, Facebook shares made a noticeable jump, gaining 4.5 percent, adding $20 billion to its market cap - the biggest daily gain in almost two years. It doesn't have a credible competitor.
"This information was generally information that people share publicly on their profile pages, like their name and profile picture and the list of pages that they follow". So this is a failure of market competition the fact that they have allowed Facebook to become so big that it now can potentially be easily controlled by the competition law and controlled because there isn't anywhere else for anybody to go to exit Facebook get out or that kind of thing. This experience makes it clear there is no way for the average user to be completely confident in any platform's privacy. "And, first, are you aware of this bias that many people have looked at and analysed and seen?" "A lot of that depends on you". Sitting online where for some people it is true and some people don't care that privacy is dead.
Facebook is awash with people typing "BFF" in the comments sections of posts, which allegedly shows that your account is safe if the text displays in green.
Ovadya - who warned in 2016 that an era of "fake news" was about to explode as tech companies rewarded click-based revenue over information accuracy and quality - said he found out that more than 300 companies had shared his data with Facebook.